Adding a bank account

To add new bank accounts to an existing company, a user must have permission to add bank accounts in the Plooto account. By default, the Administrator of your Plooto account has this permission. Also, anyone assigned the role of CFO and Accountant will have this permission as well. Follow these steps to add a new bank account:

1. Select Bank in the main menu and click on + Add Bank Account

2. Provide your bank account details. (Direct deposit information)

3. Select the Signing Authorities over this bank account, or add any additional Approvers required

Users who have already been added to Plooto will appear here, you will have the option of selecting or unselecting them

To invite new Approvers, you will need to provide their contact information. They will automatically receive an e-mail invitation to join your company as a Signing Authority

4. Select the number of Signing Authorities

This section with only appear if there are multiple Approvers

Here you are asked to select how many Approvers are required to authorize transactions for this bank account

5. Click on Save Bank Information

Note: A micro deposit with a PIN code will be issued within 24 hours to verify the bank account. To complete the activation process, the PIN code must be entered within Plooto. More details on verifying your bank account can be found here

OR

If you hold an account at one of the big banks, you will be able to enter your online banking credentials and select the account you want to connect. The process will follow the steps outlined in these images:

Select the bank where the account is held

Enter in your Card Number and Password

Answer the Security Question

Select the account you want to link

This method is instantaneous and your account will be verified once you've successfully answered the security question and selected the account.

Note for Plooto Instant users: At present, Plooto currently defaults to all signing authorities required for Plooto Instant transactions. While an ability to modify this will be released shortly, for any immediate changes please contact support@plooto.co